BlockBeats News, March 10th. Cross-chain protocol Stargate announced that it repurchased a total of 146,430 ZRO in February, worth approximately $300,000. To date, the cumulative repurchase amount is 1,495,039 ZRO, worth around $3.14 million. The team stated that Stargate rewards are currently distributed in a 50/50 ratio to veSTG stakers and ZRO repurchase. Starting next month, all Stargate rewards will be used exclusively for ZRO repurchase.
In a previous announcement, Stargate revealed that the LayerZero Foundation has completed the full acquisition of Stargate (STG), including the protocol, token, and treasury. Following the acquisition, STG tokens can be exchanged for LayerZero’s native token ZRO at a fixed rate (1 STG = 0.08634 ZRO), and the exchange window will remain open indefinitely.
